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Dec 31, 2012
12/12
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if you thought the fiscal cliff snuck up on congress, the debt ceiling bill that triggered this to begin with was signed into law in 2011. we have known from that day forward this day would be upon us if nothing was done. and everyone in congress has known all along what it would take to avert the blanket tax hikes and spending cuts that are mandated to start in the new year. how much time is that, by the way? 517 days, or you can call it one year, four months and 29 days, or 73 weeks or 12,408 hours. you get the point. your political leader is engrossed in a colossal waste of time. the tax cuts were enacted for ten years starting in 2001 and then extended in 2010 for another two years, so we have had exactly 12 years notice on that front. this should not be happening. even with all that time, the best hope we are left with is a puny tiny partial deal that averts tax hikes for the majority of taxpayers. the sequester, which is a stupid name for a stupid thing, which results in mandatory cuts that nobody wants, looks like the decision will be kicked down the road to be dealt with at anoth
if you thought the fiscal cliff snuck up on congress, the debt ceiling bill that triggered this to begin with was signed into law in 2011. we have known from that day forward this day would be upon us if nothing was done. and everyone in congress has known all along what it would take to avert the blanket tax hikes and spending cuts that are mandated to start in the new year. how much time is that, by the way? 517 days, or you can call it one year, four months and 29 days, or 73 weeks or 12,408...
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Jan 2, 2013
01/13
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government will hit what is known as the debt ceiling, the limit for borrowing and only congress can raise it. for americans braving the january chill, frustration with politicians and resignation that they will soon have to go through all over again. >> i think it is ridiculous, i think the congress should be doing their job, not waiting until the last minute. >> it is not over with yet. they have another couple of months to debate things. once they figure it out, they will come to a decision which we hope will be the best interest of the country. >> this extraordinary new year's drama has played out as barack obama prefers for his second term. a second term in which you would like to achieve big things on immigration reform, climate change, and gun control. it is clear with a bitterly divided congress come none of it will come easily. >> for more reaction from capitol hill i spoke a short time ago with republican congresswoman marcia blackburn of tennessee and 1 of her colleagues that voted against the bill. the stocks have had their best day in over a year. that might have been a
government will hit what is known as the debt ceiling, the limit for borrowing and only congress can raise it. for americans braving the january chill, frustration with politicians and resignation that they will soon have to go through all over again. >> i think it is ridiculous, i think the congress should be doing their job, not waiting until the last minute. >> it is not over with yet. they have another couple of months to debate things. once they figure it out, they will come to...
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Jan 2, 2013
01/13
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KQED
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government will hit what is known as the debt ceiling, the limit for borrowing and only congress can raise it. for americans braving the january chill, frustration with politicians and resignation that they will soon have to go through all over again. >> i think it is ridiculous, i think the congress should be doing their job, not waiting until the last minute. >> it is not over with yet. they have another couple of months to debate things. once they figure it out, they will come to a decision which we hope will be the best interest of the country. >> this extraordinary new year's drama has played out as barack obama prefers for his second term. a second term in which you would like to achieve big things on immigration reform, climate change, and gun control. it is clear with a bitterly divided congress come none of it will come easily. >> for more reaction from capitol hill i spoke a short time ago with republican congresswoman marcia blackburn of tennessee and 1 of her colleagues that voted against the bill. the stocks have had their best day in over a year. that might have been a
government will hit what is known as the debt ceiling, the limit for borrowing and only congress can raise it. for americans braving the january chill, frustration with politicians and resignation that they will soon have to go through all over again. >> i think it is ridiculous, i think the congress should be doing their job, not waiting until the last minute. >> it is not over with yet. they have another couple of months to debate things. once they figure it out, they will come to...
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Jan 2, 2013
01/13
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i think the sequester comes up in two months, probably a week or two before the debt ceiling. we're going to have to have some resolution of the broader problem. what the president should do when he gets back from hawaii, call the congress and the congressional leaders and let's get to work on the grand bargain. the big deal. and the big deal is going to require, as chairman cleaver said, more compromise. on everyone's behalf. on the president's behalf and on the republicans behalf. progressives have to understand that and we've got to give the president some leeway. and the people on the far right have got to understand. it's the only way that this will work for the long term good of the american people. >> all right, chairman cleveland, governor rendell. i'm going to have to leave it there. thanks for both of your time tonight and happy new year. >> happy new year to you, rev. >>> co >> coming up, jersey strong. chris christie unleashes a massive attack on speaker john boehner. >> it was disappointing and disgusting to watch. >>> this was the speaker's decision? he is alone.
i think the sequester comes up in two months, probably a week or two before the debt ceiling. we're going to have to have some resolution of the broader problem. what the president should do when he gets back from hawaii, call the congress and the congressional leaders and let's get to work on the grand bargain. the big deal. and the big deal is going to require, as chairman cleaver said, more compromise. on everyone's behalf. on the president's behalf and on the republicans behalf....
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a request for a hike in the ceiling and. in two thousand and eleven it was really after a very bitter debate that reset their ceiling and the other one is the long term solution to the budget deficit the fiscal deficit is running one trillion dollars a year this tax increases spending because the problem is only reduce the deficit by something like two hundred billion dollars this way show us the government the u.s. government have to cut the deficit to zero or actually to a surplus in order to pay off huge debt ok now we're talking about a very central got very very big figure as you say we talk about very big figures here i mean you you know all about china which is the largest nation holder of american debt how much leverage does beijing have over the u.s. economy or even viceversa. not really i don't think china has that much leverage over for us because time and time again the u.s. government read chinese investment in the u.s. auto china holds about one trillion u.s. dollars in u.s. fed but the u.s. government can just
a request for a hike in the ceiling and. in two thousand and eleven it was really after a very bitter debate that reset their ceiling and the other one is the long term solution to the budget deficit the fiscal deficit is running one trillion dollars a year this tax increases spending because the problem is only reduce the deficit by something like two hundred billion dollars this way show us the government the u.s. government have to cut the deficit to zero or actually to a surplus in order to...
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Dec 29, 2012
12/12
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> if congress in any way suggests that they're going to tie negotiations to debt ceiling votes and take us to the brink of default once again as part of a budget negotiation, which, by the way, we have never done in our history, until we did it last year, i will not play that game. >> won't play that game. never done in history. will the president stick to that and not allow another debacle, a debacle, if we want to be british or american, of the debt ceiling vote to be tied to budget cuts like it was last time around? >> whether it's a debacle or a debacle. we'll find out very, very quickly. the president is standing his ground so far, he is saying that he is not going to compromise on what was essentially a very central issue in the campaign. that is, are we going to see bush tax cuts continue for people who are richer than $250,000 and, you know, the republicans in congress, as you recall, last week, they said that they will not vote a tax increase, even on millionaires. house republicans have been among the worst in terms of this paralysis. i don't remember, for example, when you ha
> if congress in any way suggests that they're going to tie negotiations to debt ceiling votes and take us to the brink of default once again as part of a budget negotiation, which, by the way, we have never done in our history, until we did it last year, i will not play that game. >> won't play that game. never done in history. will the president stick to that and not allow another debacle, a debacle, if we want to be british or american, of the debt ceiling vote to be tied to budget...
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Dec 27, 2012
12/12
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will reach its debt ceiling on monday. that is when the government reaches its legal borrowing limit. now, this could pose a bigger threat to the nation's credit rating than the fiscal cliff. treasury can keep the government operating for a few weeks using emergency measures, but congress needs to act on this too to avoid a full-blown debt crisis. alina cho. joins us with the ret of the top stories. >>> former president george h.w. bush remains in intensive care in a houston hospital with an elevated fever. he is on a liquid diet an his condition is listed as guarded. his spokesman quotes him as saying i'm determined not to be dprumpy with all of this. >>> toyota has agreed to pay up in a major way, $1.1 billion to settle a class action suit over sudden acceleration issues. under the deal toyota will install a brake override system in effective cars. it will also set up a fund of $250 million for former toyota owners who sold their cars from september of 2009 through all of 2010. that money would compensate owners for thei
will reach its debt ceiling on monday. that is when the government reaches its legal borrowing limit. now, this could pose a bigger threat to the nation's credit rating than the fiscal cliff. treasury can keep the government operating for a few weeks using emergency measures, but congress needs to act on this too to avoid a full-blown debt crisis. alina cho. joins us with the ret of the top stories. >>> former president george h.w. bush remains in intensive care in a houston hospital...
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congress and the white house will talk about the debt ceiling. we could reach the limit by the end of february. and won't likely agree to raising it without guarantees of spending cuts. despite this bill, you may notice your paycheck is a little smaller this year. that's because a temporary cut in a payroll tax just expired. the social security payroll tax jumps back to 6.2% for 160 million americans. it's been 4.2%. some banks say that could cut consumer spending by as much as $100 billion this year. that's less than the 115 to $125 billion in revenue it costs the government each year. >>> after the vote overseas markets jumped. cnbc's hampton pearce here to talk about. >> stocks poised to kick off the new year on a high note. futures are sharply higher. investors are reacting to that house vote on the bill last night to avoid the fiscal cliff. asian markets were higher overnight. traders say the rally could be short-lived as the next big battle in washington looms in a few months over raising the debt ceiling or the nation's borrowing limit. we
congress and the white house will talk about the debt ceiling. we could reach the limit by the end of february. and won't likely agree to raising it without guarantees of spending cuts. despite this bill, you may notice your paycheck is a little smaller this year. that's because a temporary cut in a payroll tax just expired. the social security payroll tax jumps back to 6.2% for 160 million americans. it's been 4.2%. some banks say that could cut consumer spending by as much as $100 billion...
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Dec 28, 2012
12/12
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or raise the debt ceiling by december 31st. they will take a number of what they call recurring payments and they take that interest money and reinvest it. they won't do that. they will hold on to the money and spend it on just operating the federal government. that can be costly. it cost about a billion dollars last time to go through all of this. and it looks like we are going to go through that again. >> well, this debt ceiling was raised back in august of 2011. we all knew it was coming. this was inevitable. so now if we raise the debt ceiling again we will be dealing with it another time. we see no appetite for not reaching the debt ceiling, or historically or at least for a while. >> if you look at 2007, 2008, august, 08, it's coming up more and more often as we keep piling on more and more debt. the last three, four years, a trillion dollars plus. we are looking this year, estimates somewhere near $1 trillion in additional debt. that's how we have managed. we have to keep doing it and doing it more often. >> split:ramifi
or raise the debt ceiling by december 31st. they will take a number of what they call recurring payments and they take that interest money and reinvest it. they won't do that. they will hold on to the money and spend it on just operating the federal government. that can be costly. it cost about a billion dollars last time to go through all of this. and it looks like we are going to go through that again. >> well, this debt ceiling was raised back in august of 2011. we all knew it was...
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be tackling this side of the equation again in the next couple of months now the issue of the debt ceiling which is a u.s. pouring limit is something which congress needs to pass in the public says we're quite happy to hold this over the obama administration until they get the spending cuts that they want so there's a lot of political wrangling ahead and yet. nerve markets. while this right now see the u.s. markets reaction then as i say a new year round it is underway right now that is in reaction to the nor make his passing of the bill of those spending cuts and tax increases so we got a real sense of relief on the trading floors today really the same goes for europe as well which are those numbers out as well for you again we've got healthy positive gains and as far as europe's concerned stocks rallied to a twenty two month high and that's after the deal was struck immediately after so as far as the global equity markets are concerned it's solved so good over two percent up for the sea and the dax just that. and moving on then is that you you managed to escape the find out to claim of t
be tackling this side of the equation again in the next couple of months now the issue of the debt ceiling which is a u.s. pouring limit is something which congress needs to pass in the public says we're quite happy to hold this over the obama administration until they get the spending cuts that they want so there's a lot of political wrangling ahead and yet. nerve markets. while this right now see the u.s. markets reaction then as i say a new year round it is underway right now that is in...
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: and the debt ceiling, before leaving for hawaii early this morning president obama urmged congress to raise it. >> we can't not pay bills that we already incurred. if congress refuses to give the united states government the ability to pay these bills on time, the consequences for the entire global economy would be catastroph catastrophic. >> reporter: no word when the president will sign the bill so in the end it was one day late but just in time for nervous veshz as markets re-opened this morning. tracie potts, nbc news, washington. >> investors appear to be reacting positively to the deal. the dow is up 2%. nasdaq up 2.5%. markets in asia and europe were also up today. >>> your taxes are still about to go up. a 2% payroll tax cut just expired. that means you'll be paying about $1,000 a year more in taxs if you make $50,000 a year. economists warn that could slow the country's economic growth but as much as .07% in the coming year. on the flip side the tax cut cost the government about $125 billion a year. >> this congressional term is not ending without controversy. >> but i am
: and the debt ceiling, before leaving for hawaii early this morning president obama urmged congress to raise it. >> we can't not pay bills that we already incurred. if congress refuses to give the united states government the ability to pay these bills on time, the consequences for the entire global economy would be catastroph catastrophic. >> reporter: no word when the president will sign the bill so in the end it was one day late but just in time for nervous veshz as markets...
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and the president says he's not going to discuss the debt ceiling with congress. so, america's fundamental problems are overspending and massive debt remain unresolved. in my opinion, we look more and more like greece. that's my opinion. okay. and later this hour, democrat strategist and former clinton advisor doug schoen tells the company, are we like greece? is this deal affecting america's prosperity. i'll ask him the top of the hour. and grover norquist, is he backing down from his no-tax pledge? is he hedging? find out, ten o'clock this morning. go to our facebook page, tell us what you think about the deal that we've got, you're happy with it. if you are, we want to know why. we'll read some of your comments on the air. tell us why we want that in there. the markets, they've got their answer on the fiscal cliff, a deal has been done, the result is yes, it is a rally. we're going to see a big gain for the dow. it's going to be big. the opening bell for this brand new year is next. night ♪ >> surely you recognize that music, don't you? that's played on the b
and the president says he's not going to discuss the debt ceiling with congress. so, america's fundamental problems are overspending and massive debt remain unresolved. in my opinion, we look more and more like greece. that's my opinion. okay. and later this hour, democrat strategist and former clinton advisor doug schoen tells the company, are we like greece? is this deal affecting america's prosperity. i'll ask him the top of the hour. and grover norquist, is he backing down from his no-tax...
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Dec 27, 2012
12/12
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he is now telling congress that the u.s. government will reach its borrowing limit by next monday, the 31st. remember how much fun the last debt ceiling fight was? well, that news comes as president obama rushes home to washington, cutting short his hawaiian vacation in order to resume talks on the fiscal cliff. there are just five days remaining to strike a deal. we'll get to all that in a moment, but first, we begin with a massive winter storm that made holiday travel miserable for millions of americans, including me! winter storm euclid -- what, are we naming snowstorms now? euclid. you can lid? well, euclid blanketed much of the eastern half of the country yesterday, dropping blizzard-like conditions and record snowfall in the midwest, and by late afternoon, euclid moved northeast, bringing traffic to a standstill, forcing the cancellation of more than 1,500 flights on one of the busiest travel days of the year. the weather channel's mike seidel has more on the massive christmas storm. >> reporter: a major snowstorm has
he is now telling congress that the u.s. government will reach its borrowing limit by next monday, the 31st. remember how much fun the last debt ceiling fight was? well, that news comes as president obama rushes home to washington, cutting short his hawaiian vacation in order to resume talks on the fiscal cliff. there are just five days remaining to strike a deal. we'll get to all that in a moment, but first, we begin with a massive winter storm that made holiday travel miserable for millions...
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Jan 2, 2013
01/13
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and the debt ceiling deal will be reached in two months if congress does not act. jim moran is not confident working out a deal will be easy. >> just increasing the deficit by $3.90 trillion, which will now force us to dramatically street the size of government and that will have an adverse impact on the washington area. >> the president returns to hawaii, so it's not clear when he will sign the bill. brianne carter reporting. >> secretary of state hillary clinton continues to recover from public clocked at a new york hospital. she was last seen in public three weeks ago before she fainted and was fossilized with a concussion. doctors ran some scans which revealed the blood clots between her brain and her skull. the good news is they say there will likely be no long-lasting neurological damage. >> today is the first day back to school for the students of sandy hook elementary. there are attending open house at every purpose of building in monroe conn. will start class tomorrow. workers and teachers have been getting the area ready after painting and setting up clas
and the debt ceiling deal will be reached in two months if congress does not act. jim moran is not confident working out a deal will be easy. >> just increasing the deficit by $3.90 trillion, which will now force us to dramatically street the size of government and that will have an adverse impact on the washington area. >> the president returns to hawaii, so it's not clear when he will sign the bill. brianne carter reporting. >> secretary of state hillary clinton continues to...
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Jan 3, 2013
01/13
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this new congress is going to have to vote sometime in the next couple of months to raise the debt ceiling, and the truth, anthony and norah, is that this fiscal cliff was relatively simple to solve, if congress had so much trouble with that how are they going to tackle more difficult issues that they say they want to work on like immigration and tax reform. >> good question. nancy cordes thanks. >>> president obama signed a fiscal cliff legislation into law wednesday, after reyou nighting with his family in hawaii. chip reid is traveling with the president in honolulu. chip, good morning. >> reporter: good morning, anthony and norah. this is the president's second visit to hawaii this holiday season. he was here for christmas and then rushed back to washington for that battle over the fiscal cliff. now he's back on vacation after what the white house believes was a major victory. that vikt way was crowned late last night when the president authorized the signing of the fiscal cliff deal. he didn't sign it with his observe hand but used an auto pen back in washington. in a video to support
this new congress is going to have to vote sometime in the next couple of months to raise the debt ceiling, and the truth, anthony and norah, is that this fiscal cliff was relatively simple to solve, if congress had so much trouble with that how are they going to tackle more difficult issues that they say they want to work on like immigration and tax reform. >> good question. nancy cordes thanks. >>> president obama signed a fiscal cliff legislation into law wednesday, after...
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be tackling this side of the equation again in the next couple of months now the issue of the debt ceiling which is a u.s. pouring limit is something which congress needs to pass in the public says we're quite happy to hold this over the obama administration until they get the spending cuts that they want so there's a lot of political wrangling ahead on that yet. nerve markets. so that's what the experts are saying let's have a look at the u.s. markets reaction as you can see we are looking at that new year rally is underway and it's in reaction to the lawmakers passing of the bill advancing those spending cuts on those tax increases we were chatting about on real sense of relief on the trading floors as you can see it got some real positive has to gains on wall street . and let's take out europe then shall we see what's going on we've got stocks rallying to a twenty two month high after the deal was struck so as far as the global equity markets are concerned so far so good really for twenty eight thirteen as you can see again we're looking at positive gains that. how moving on then if you
be tackling this side of the equation again in the next couple of months now the issue of the debt ceiling which is a u.s. pouring limit is something which congress needs to pass in the public says we're quite happy to hold this over the obama administration until they get the spending cuts that they want so there's a lot of political wrangling ahead on that yet. nerve markets. so that's what the experts are saying let's have a look at the u.s. markets reaction as you can see we are looking at...
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Jan 3, 2013
01/13
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about raising the debt ceiling. what sort of eleven raj does he have to get some sort of grand bargain? >> we have to -- we shouldn't get into a debate about whether or not we're going to pay the bills we've already racked up as he said. we know we have to pay for those bills. that's money that's already spent. so, look. let's go ahead and not default on the nation's bills because we understand that would be a calamity for our economy. but i think both sides didn't get things in this fiscal cliff deal that set the stage for the next one. there are things to do to continue to make the tax code fair. republicans would like to see some changes in the way we do some entitlen'ts, hopefully in a measured way so we don't end up doing more harm than good. but, look, i think we all understand the elements that have to be involved to grow our economy, to get some balance in our tax code, to get our fiscal house in order. again, if we could put aside some of the screaming and yelling. >> but it does set up as some call it the
about raising the debt ceiling. what sort of eleven raj does he have to get some sort of grand bargain? >> we have to -- we shouldn't get into a debate about whether or not we're going to pay the bills we've already racked up as he said. we know we have to pay for those bills. that's money that's already spent. so, look. let's go ahead and not default on the nation's bills because we understand that would be a calamity for our economy. but i think both sides didn't get things in this...
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Jan 2, 2013
01/13
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it does not raise the so-called app ceiling. in two months, government will reach its limit on borrowing unless congress acts. it only delays large cost the pentagon and other government programs. in march we may see another round of fighting. president says he hopes congress can get a deal done with a little less trauma. >> another blow in the effort to get aid areas -- aid to areas devastated by hurricane sandy. back on friday, the senate approved more than $60 billion measure to help recover is on the storm. house appropriations committee drafted a smaller $27 billion measure and the vote has been expected before congress's term ends thursday. >> secretary of state hillary clinton spent the first night of 2013 in a hospital, recovering from a blood clot. they are using blood thinners to break up the clots behind the right year. the plot-- the clot was discovered during a follow-up exam for concussions she sustained last month. it is not clear when she will leave the hospital. >> two men accused of brutally beating a d.c. man
it does not raise the so-called app ceiling. in two months, government will reach its limit on borrowing unless congress acts. it only delays large cost the pentagon and other government programs. in march we may see another round of fighting. president says he hopes congress can get a deal done with a little less trauma. >> another blow in the effort to get aid areas -- aid to areas devastated by hurricane sandy. back on friday, the senate approved more than $60 billion measure to help...
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and also now it's coupled with the debt ceiling in the u.s. also hitting the ceiling just once again this could create drastic consequences certainly could and they could more on this in a couple minutes. it's. was the. in this remote siberians image people still sing the songs which russians sang in the middle ages and they cherish the ancient rituals practiced by the will set up church before the seventeenth century the old believers here is sign bierria are a conservative community here known as the simi skeer a word which refers to family. of god believers need there yet i feel that. i now am that i first asked her and that i was people here are happy to show their way of life to tourists and to show them how to dance in the local star. the use of prayer and the bell and the girl needs to watch her legs don't go up too much during the dance she must be a model stick. their head.
and also now it's coupled with the debt ceiling in the u.s. also hitting the ceiling just once again this could create drastic consequences certainly could and they could more on this in a couple minutes. it's. was the. in this remote siberians image people still sing the songs which russians sang in the middle ages and they cherish the ancient rituals practiced by the will set up church before the seventeenth century the old believers here is sign bierria are a conservative community here...
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Jan 2, 2013
01/13
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. >> i will not have -- debt ceiling. >> i will not have another debt over this congress over whether or not they should pay the bills they've already racked up. >> reporter: and maryland's chris van hollen, the ranking member of the democrats on the budget committee, expects the president will stand firm. >> we should not be playing any political games with the debt ceiling. that is the economic equivalent of a nuclear weapon. it would make this whole idea going over the fiscal cliff look like a cake walk. >> reporter: but many republicans think it is the next best chance to control the cost of medicare and social security. bruce leshan, 9 news now. >>> wall street showed its approval of the bill with a big gain today. the dow closed up 308 points. among the provisions tucked into the 150 page bill, an estimated $222 million in extended excise taxes for the rum industries in puerto rico and the assever engine islands and an estimated 4 -- and the u.s. virgin islands and an estimated $400 million intax deductions for the u.s. film and tv industries. >>> a piece of the federal transit
. >> i will not have -- debt ceiling. >> i will not have another debt over this congress over whether or not they should pay the bills they've already racked up. >> reporter: and maryland's chris van hollen, the ranking member of the democrats on the budget committee, expects the president will stand firm. >> we should not be playing any political games with the debt ceiling. that is the economic equivalent of a nuclear weapon. it would make this whole idea going over...
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Jan 2, 2013
01/13
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you're all important, all members of congress but you're a member of the leadership. how will you do things differently going forward with the debt ceiling debate, the sequester debate? >> i disagree with some of your earlier callers. we didn't have a downgrade because of the debt ceiling debate. we had it because we weren't dealing with our deficit. >> that's not entirely true -- >> that is entirely true -- >> it is actually isn't. i enjoy talking to you but it's not true. >> you can't have trillion dollar -- >> give me five minutes and i'll pull out s&p reports. i don't know as much about congress as you do but i do know about this. >> i can assure you when you're spending that much more than you're taking in, that's the cause of the problem and we have no creditable plan. the president, have i a lot of respect for him pip worked with him on this and worked with him tonight and i'm proud to do so. when you get a vote up here, when you have a democratic senate that can't produce a budget in three years. >> listen, i don't think the president is blameless and i don't
you're all important, all members of congress but you're a member of the leadership. how will you do things differently going forward with the debt ceiling debate, the sequester debate? >> i disagree with some of your earlier callers. we didn't have a downgrade because of the debt ceiling debate. we had it because we weren't dealing with our deficit. >> that's not entirely true -- >> that is entirely true -- >> it is actually isn't. i enjoy talking to you but it's not...
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01/13
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he wants congress to just pass it right away, but he doesn't control congress. so if he wants republicans to vote in favor of raising the debt ceiling, he may have to negotiate with them, norah. >> nancy cordkocordecordes. thanks, cordes. >>> vice president biden is getting much of the credit for nailing down the deal. the message is biden is back. good morning. >> reporter: it's a fresh start for biden, no question about it. he's been the chief negotiator with congress on the fiscal cliff. that was a good thing for biden after his foot in the mouth style. last night all was for given. >> i want to thank you for the work that was done by the extraordinary work done buy my vice president joe biden. >> a message for at a boy who cleared the way for three action-packed days. the white house sent the vice president to the capitol twice to convince skeptical democrats that the fiscal cliff deal was a good one. he presented himself as the man who could deliver. mitch mcconnell, the senate's top republican ditched harry reid, his counterpart across the aisle, and asked
he wants congress to just pass it right away, but he doesn't control congress. so if he wants republicans to vote in favor of raising the debt ceiling, he may have to negotiate with them, norah. >> nancy cordkocordecordes. thanks, cordes. >>> vice president biden is getting much of the credit for nailing down the deal. the message is biden is back. good morning. >> reporter: it's a fresh start for biden, no question about it. he's been the chief negotiator with congress on...
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you're all important, all members of congress but you're a member of the leadership. how will you do things differently going forward with the debt ceiling debate, the sequester debate? >> i disagree with some of your earlier callers. we didn't have a downgrade because of the debt ceiling debate. we had it because we weren't dealing with our deficit. >> that's not entirely true -- >> that is entirely true -- >> it is actually isn't. i enjoy talking to you but it's not true. >> you can't have trillion dollar -- >> give me five minutes and i'll pull out s&p reports. i don't know as much about congress as you do but i do know about this. >> i can assure you when you're spending that much more than you're taking in, that's the cause of the problem and we have no creditable plan. the president, have i a lot of respect for him pip worked with him on this and worked with him tonight and i'm proud to do so. when you get a vote up here, when you have a democratic senate that can't produce a budget in three years. >> listen, i don't think the president is blameless and i don't
you're all important, all members of congress but you're a member of the leadership. how will you do things differently going forward with the debt ceiling debate, the sequester debate? >> i disagree with some of your earlier callers. we didn't have a downgrade because of the debt ceiling debate. we had it because we weren't dealing with our deficit. >> that's not entirely true -- >> that is entirely true -- >> it is actually isn't. i enjoy talking to you but it's not...
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cheryl: you mentioned the new congress coming in. of what point are we going to hear the debate about the debt ceiling. obviously treasury secretary gunnar coming out over the holidays adding another wrinkle to the debt ceiling debate say we will reach the $16 trillion level. do you think that will happen right away in the new congress? >> the first thing they will discuss after the clear this deal out of the way after the deal with the tax rates. if the house to approve this and the president signs it into law, we're talking about the debt ceiling for the next couple of months. we don't have that much certainty on how much room we have. we know it's $200 billion but that all depends on the specifics of the textile because remember, taxes are going up, but the fiscal cliff its full force and continues to hit full force, technically it already has a degree that helps the deficit picture and gives us more room as a country underneath that debt ceiling. we have already technically hit it. $200 of that extraordinary measures being taken
cheryl: you mentioned the new congress coming in. of what point are we going to hear the debate about the debt ceiling. obviously treasury secretary gunnar coming out over the holidays adding another wrinkle to the debt ceiling debate say we will reach the $16 trillion level. do you think that will happen right away in the new congress? >> the first thing they will discuss after the clear this deal out of the way after the deal with the tax rates. if the house to approve this and the...
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speaking of the debt ceiling and talks that are ahead of us, the 113 congress convening in washington. two days after reaching that fiscal cliff deal and pressure is already on them to get back to work. the folks behind the fix, debt campaign campaign with print ads saying, hold the applause. i'm getting nods of agreement from mr. polcari. can a divided house get dem dprats missouri? democrat from tennessee, thank you, we appreciate you being here on "power lunch." >> it is good to be here. >> you voted no on the recent debate in congress. how do you plan to vote on the debt ceiling debate coming up? >> i think that depends upon what we will see will happen in the debt ceiling debate. obviously wbt reason i voted no on this bill is it did not do anything it fix the root of the fiscal problem. that is our spending is out of control. so i want to see that we are going to get some spending cuts and we will get true reform. that's what i want to see in this debate. >> how contentious is this debate going to be? you saw the volatility on wall street. you saw the angst in the consumer. some
speaking of the debt ceiling and talks that are ahead of us, the 113 congress convening in washington. two days after reaching that fiscal cliff deal and pressure is already on them to get back to work. the folks behind the fix, debt campaign campaign with print ads saying, hold the applause. i'm getting nods of agreement from mr. polcari. can a divided house get dem dprats missouri? democrat from tennessee, thank you, we appreciate you being here on "power lunch." >> it is good...
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debate, that congress will be a busy congress we hope. they are officially in session at noon eastern time. i will see you in 40 minutes and we will have the results of that vote for john boehner when it happens live on markets now. john boehner worries about his job, the job picture for most americans seems to be improving. in the month of december private sector hiring jumping by 250,000 jobs according to processing firm adp, the largest increase since february for what is in the labour market and what companies are dealing with. the president of the vantage payroll services is with me. big jump for december. is this a big turnaround for the labor market? >> it is a big turnaround. it is almost 100,000 jobs more than the previous month. a lot retail jobs have to do with the holiday season but i do think because of 25,000 small business jobs between 19, and 49 employees that were created it will be a big boom for america and i hope we get the same numbers in january. cheryl: one thing many of your clients, you are a payroll processor, th
debate, that congress will be a busy congress we hope. they are officially in session at noon eastern time. i will see you in 40 minutes and we will have the results of that vote for john boehner when it happens live on markets now. john boehner worries about his job, the job picture for most americans seems to be improving. in the month of december private sector hiring jumping by 250,000 jobs according to processing firm adp, the largest increase since february for what is in the labour...
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are now threatening to use for leverage, debt ceiling, continuing resolution. >> sequester. >> right. i guess the idea you just put out there, carveouts, the basic idea of messing with an increasing the eligibility age for medicare, a huge no no to many people in your party. what are the other things, i'm curious, beside that that you would be comfortable? >> let's challenge that being a huge into no. when was medicare passed into law, guys? >> 1965. >> '65? what was the avalanche life expectancy? >> but governor -- [ overlapping speakers ] >> throw rationality out the window. >> the working poor -- [ overlapping speakers ] what is the life expectancy of the working poor versus what it was ten years ago, gone up, gone down is it the same? >> no, it's gone up. >> for the working poor. >> stayed the same. >> absolutely, it's gone up. it's gone up. >> isn't the goal of the progressive movement to be making medicare more available instead of less available? >> well, sure, but its answer is -- we should have single payer around it should be medicare for all americans that would solve all
are now threatening to use for leverage, debt ceiling, continuing resolution. >> sequester. >> right. i guess the idea you just put out there, carveouts, the basic idea of messing with an increasing the eligibility age for medicare, a huge no no to many people in your party. what are the other things, i'm curious, beside that that you would be comfortable? >> let's challenge that being a huge into no. when was medicare passed into law, guys? >> 1965. >> '65? what...
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you're all important, all members of congress but you're a member of the leadership. how will you do things differently going forward with the debt ceiling debate, the sequester debate? >> i disagree with some of your earlier callers. we didn't have a downgrade because of the debt ceiling debate. we had it because we weren't dealing with our deficit. >> that's not entirely true -- >> that is entirely true -- >> it is actually isn't. i enjoy talking to you but it's not true. >> you can't have trillion dollar -- >> give me five minutes and i'll pull out s&p reports. i don't know as much about congress as you do but i do know about this. >> i can assure you when you're spending that much more than you're taking in, that's the cause of the problem and we have no creditable plan. the president, have i a lot of respect for him pip worked with him on this and worked with him tonight and i'm proud to do so. when you get a vote up here, when you have a democratic senate that can't produce a budget in three years. >> listen, i don't think the president is blameless and i don't
you're all important, all members of congress but you're a member of the leadership. how will you do things differently going forward with the debt ceiling debate, the sequester debate? >> i disagree with some of your earlier callers. we didn't have a downgrade because of the debt ceiling debate. we had it because we weren't dealing with our deficit. >> that's not entirely true -- >> that is entirely true -- >> it is actually isn't. i enjoy talking to you but it's not...
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this could set stage for another capitol hill battle as congress must vote to raise the debt ceiling. >> new this morning, gay marriage ceremonies are under way in maryland. same-sex couples have been able to get marriage licenses in the free state for about three weeks but the new law didn't go into effect until the strike of midnight in the new year. dozens of same-sex weddings are scheduled for today including some at city hall in baltimore and a mass wedding event at the black walnut point inn on tillman island. >>> maryland is also banning arsenic in chicken feed and allowing parents to freeze their child appear credit in an effort to prevent identity theft. in virginia, it will be harder for state and local governments to take property in the name of eminent domain. and insurance agents will now have to perform property owners if their policy excludes coverage for earthquake damage. >>> let's talk football. the redskins are still the talk of the town. >> the excitement over their first division tight until 13 years is overwhelming. tickets for sunday's game are all sold out thro
this could set stage for another capitol hill battle as congress must vote to raise the debt ceiling. >> new this morning, gay marriage ceremonies are under way in maryland. same-sex couples have been able to get marriage licenses in the free state for about three weeks but the new law didn't go into effect until the strike of midnight in the new year. dozens of same-sex weddings are scheduled for today including some at city hall in baltimore and a mass wedding event at the black walnut...
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otherwise congress would never get it done. that is speaker boehner's leverage with the debt ceiling. so i think we could do a lot better wh the type of people that we're electing to congress, moving away from the extremes and bringing more centrists who can work together. could give you a long speech about that when you combine those two things, you don't get a great work product. adam: congressman jason altmire, you mentioned harmonic convergence that happens in south florida. you're going to blue cross-blue shield up in tallahassee. you won't get that there. all the best to you, sir. congratulations on your service in congress. wish awe happy new year. >> happy new year, thank you. adam: so we'll get the republican take from senator john barrasso just a lit later in the program. he is kook discussing right now with other members of the republican caucus in the senate. they're talking about all of this. viously the final physical cliff deal affects everybody, every aspect of our money, the markets, the economy. some say no ma
otherwise congress would never get it done. that is speaker boehner's leverage with the debt ceiling. so i think we could do a lot better wh the type of people that we're electing to congress, moving away from the extremes and bringing more centrists who can work together. could give you a long speech about that when you combine those two things, you don't get a great work product. adam: congressman jason altmire, you mentioned harmonic convergence that happens in south florida. you're going to...
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wrangling again in a couple months over the debt ceiling and this spending cuts that they delayed but when it comes to the reported six hundred billion dollars over ten years in new revenue this deal is said to raise never mind the new deficit that creates what does that kind of money by any way we have a reality check plus why is the government involved in keeping the price of milk whoa part of the fiscal cliff deal involved of burning what some have dubbed a dairy cliff will discuss and wall wrong cliffs we have five phrases we'd like to retire this year that's in loose change let's get to today's capital account. so the fiscal cliff has been averted kind of by a deal that pushes more wrangling into the future by a few months so all say the play by play of the twenty four hour cable network news that we are hearing and will continue to hear for at least the next few months let's move on to something actually interesting though for the most part it is a new year time to reflect on how we can be better in two thousand and thirteen when it comes to the way we think about the economy mo
wrangling again in a couple months over the debt ceiling and this spending cuts that they delayed but when it comes to the reported six hundred billion dollars over ten years in new revenue this deal is said to raise never mind the new deficit that creates what does that kind of money by any way we have a reality check plus why is the government involved in keeping the price of milk whoa part of the fiscal cliff deal involved of burning what some have dubbed a dairy cliff will discuss and wall...
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congress must vote now to raise the debt ceiling and setting the stage for yet another battle on capitol hill. a new year brings new numbers on the paycheck of thousands san francisco workers. a higher minimum wage comes in . carolyn tyler has the details. >> the street prides itself on the salaries paid to workers in the back of the house. cooks and dish washers and a record high minimum wage rose in from 8.50 in 2004 to 10.24 an hour and jumps to 10.55. >> will it keep you from hiring. >> yes, we'll have to trim our staff down and have less employees. we can't give the raises because the money is not there . >> supporters say it gives workers and the economy a boost. it is going up in san francisco stince 2003, when voters passed a measure that automatically ties the minimum wage to inflation and cost of the living each year. >> san francisco is not losing business. businesses are not running away from us. we live in one of the most expensive counties in the country . we can afford and businesses can afford this and workers can deserve it. >> recent study by the university of kentucky
congress must vote now to raise the debt ceiling and setting the stage for yet another battle on capitol hill. a new year brings new numbers on the paycheck of thousands san francisco workers. a higher minimum wage comes in . carolyn tyler has the details. >> the street prides itself on the salaries paid to workers in the back of the house. cooks and dish washers and a record high minimum wage rose in from 8.50 in 2004 to 10.24 an hour and jumps to 10.55. >> will it keep you from...
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congress now needs to raise the debt ceiling, he says, so the government can keep paying its bills. if not, he says the consequences could be far worse than the impact of the fiscal cliff. >>> secretary of state hillary rodham clinton will fully recov recover, doctors are confident, from a blood clot in her head. she is said to be in good spirits and making excellent progress. the blood clot behind her right ear formed after a concussion from a fall. >>> justin bieber's sports car. he was not in the car at the time. the photographer was struck by another vehicle as he returned to his own car. officials say no charges are expected against the driver who hit him. >>> today an open house is being held in connecticut at a repurpose school for survivors of last month's sandy hook elementary massacre. teachers and other workers have been busy get thing the space ready for the students, painting and moving furniture. classes at the new facility begin tomorrow. counselors say it's important for children to get back into a normal routine. >>> if your new year's resolution is to lose a few po
congress now needs to raise the debt ceiling, he says, so the government can keep paying its bills. if not, he says the consequences could be far worse than the impact of the fiscal cliff. >>> secretary of state hillary rodham clinton will fully recov recover, doctors are confident, from a blood clot in her head. she is said to be in good spirits and making excellent progress. the blood clot behind her right ear formed after a concussion from a fall. >>> justin bieber's sports...
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we may hit the debt ceiling again in just a few weeks. tracie potts, nbc news, washington. >> the fun never ends. >>> just minutes ago, the federal trade commission announcing a settlement with google over a host of complaints dating back for years now. scott mcgrew joins us. some say the settlement simply falls short. >> yeah, way short. if you're one of google's competitors. an issue was does google change its search results to benefit itself. and the ftc says it does. but they decided there was little harm to consumers in what google is doing. the settlement announced just a short time ago does limit google but in the most specific of ways, and ways that as a consumer you simply won't notice. executive summary here, that's the way the antitrust investigation ends, not with a fine but with a whimper. >>> and in a related bit of news, google chairman eric schmidt will go to north korea. the "associated press" says schmidt will go as a private citizen, not representing the company. now, why, exactly is not cleerp, though the new leader th
we may hit the debt ceiling again in just a few weeks. tracie potts, nbc news, washington. >> the fun never ends. >>> just minutes ago, the federal trade commission announcing a settlement with google over a host of complaints dating back for years now. scott mcgrew joins us. some say the settlement simply falls short. >> yeah, way short. if you're one of google's competitors. an issue was does google change its search results to benefit itself. and the ftc says it does....
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. >> that is because this bill does not tackle anything like the debt ceiling were reaching their recent borrowing limit in a few months. the president is headed back to what he to continue his vacation but will soon be back here in washington. the new congress is expected to be sworn in. >> the time is 6:00 for -- 6:04 there'll be a swearing in ceremony at the washington convention center for d.c. council members. >> a prince george's county teacher is accused of sexually abusing a 13-year-old girl and is expected in court. he was arrested last month. he was the abused student's teacher. he is now on administrative leave. two men accused in the attack of a d.c. man there is to market head back to court for a hearing. they are accused of beating the man for himself last august. both are held without bond. let's get to some good news. everyone is excited for sunday. >> the redskins will be in the playoffs. that is a great feeling it after many years without. if you wanted ticket it will cost you? >> you will pay a pretty penny. you have waited seven years, 13 years, really, to see a play
. >> that is because this bill does not tackle anything like the debt ceiling were reaching their recent borrowing limit in a few months. the president is headed back to what he to continue his vacation but will soon be back here in washington. the new congress is expected to be sworn in. >> the time is 6:00 for -- 6:04 there'll be a swearing in ceremony at the washington convention center for d.c. council members. >> a prince george's county teacher is accused of sexually...
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and then, of course, we had the debt ceiling showdown. then it culminated with this fiscal cliff and created what's coming in march. what's coming in march, matt, take all the fights we had separately and put them all in one fight and expiring all at the same time, debt ceiling, funding the entire federal government, that expires. >> and i thought david brooks column was powerful and eye opening. kelly mentioned something he said but he said if congress couldn't make a single tough decision under these circumstances, why should we think it will make any further down the road? more likely, there will just be more squabbling and brinkmanship, more posturing and punting, which would not only poison future budget talks, chuck but also prospects for immigration reform, tax reform, gun control and many other projects. not a rosie picture. >> it isn't. i'm trying to figure out the relationship between, for instance, house speaker john boehner and the white house is terrible. let's not pretend they can get anything done. yet you still have to get
and then, of course, we had the debt ceiling showdown. then it culminated with this fiscal cliff and created what's coming in march. what's coming in march, matt, take all the fights we had separately and put them all in one fight and expiring all at the same time, debt ceiling, funding the entire federal government, that expires. >> and i thought david brooks column was powerful and eye opening. kelly mentioned something he said but he said if congress couldn't make a single tough...
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the question remains, congress has to vote to raise that debt ceiling. that is simply the fact. the debt ceiling has been hit yesterday on december 31st. because the treasury secretary is able to move around some sickout and by about two more months, the sequestration cuts that the president spoke about will be delayed another two months as well as spending bills that keep running. the president is trying to get out in front there and talk about the need for cooperation, talk about the president -- president of bipartisanship that has been set with what has happened here. he talked about the fact that he still wants a grand bargain and the fact that medicare is something that will have to be addressed. those are difficult challenges that have to be faced. to a certain extent, he was getting out ahead of some of the frustration and disaffection that he will feel from his left, from the base of his party when those issues are tackled. the president had a number of things on the agenda that he wanted to address and punctuate this long fight that has just come to an end tonight on n
the question remains, congress has to vote to raise that debt ceiling. that is simply the fact. the debt ceiling has been hit yesterday on december 31st. because the treasury secretary is able to move around some sickout and by about two more months, the sequestration cuts that the president spoke about will be delayed another two months as well as spending bills that keep running. the president is trying to get out in front there and talk about the need for cooperation, talk about the...
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ceiling. that's where democrats -- that's what will determine ultimately who was right, who played their cards correctly. >> okay. mike allen, do you have any new year's resolutions? >> i do. one of them -- you know, i have about ten pounds of slightly, to get rid of some -- >> i don't see it. >> one of my new year's resolutions is -- and mika, tell me if this works -- to put down my fork between each bite. if you eat more slowly, you eat less. if you chew, if you put down your fork, you're going to not get as hungry quickly. >> you pace yourself. i would give joe that advice, but he doesn't use a fork. oh, well. >> there's a pizza loophole in that, too. >> there is a pizza loophole. >> mike allen, thank you. good luck with that. >> happy '13. >> fork down. >>> it was a frantic day of college bowl games as we count down to the matchup next monday between notre dame and alabama. mark halperin brings us those highlights next in sports. [ female announcer ] how do you define your moment? the blis
ceiling. that's where democrats -- that's what will determine ultimately who was right, who played their cards correctly. >> okay. mike allen, do you have any new year's resolutions? >> i do. one of them -- you know, i have about ten pounds of slightly, to get rid of some -- >> i don't see it. >> one of my new year's resolutions is -- and mika, tell me if this works -- to put down my fork between each bite. if you eat more slowly, you eat less. if you chew, if you put...
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congress took the u.s. government the u.s. economy hostage and they let their hostage go about an hour several hours after the hostage deadline and they now would like to be congratulated for letting their hostages go however since they took the hostages it's hard to be excited and addition to which this has reputational damage the united states as well as really damage the united states because all the uncertainty it all the negativity over the last really ten months almost as this dragged out and this deal violated all the basic promises to both basic constituencies so nobody wanted to be responsible for a deal and everybody was much more interested in grandstanding and talking ideological purity than solving the nation's problems it was an expiry of the tax cuts why aren't we hearing much about it because they're focusing on the few successes some real some imagined and that is not an area of success and it highlights that when the republican party says no new taxes at all they mean new taxes and including new taxes for peo
congress took the u.s. government the u.s. economy hostage and they let their hostage go about an hour several hours after the hostage deadline and they now would like to be congratulated for letting their hostages go however since they took the hostages it's hard to be excited and addition to which this has reputational damage the united states as well as really damage the united states because all the uncertainty it all the negativity over the last really ten months almost as this dragged out...
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to deal with, including a debt ceiling in a matter of weeks, if we can't get past the cliff, i guess what i'm going to ask you, ron is how much hope do we have that congress can tackle these other huge issues? >> well, look, i think that's the big story here. the context wit fiscal cliff and all of this has to be seen. it is whether red america and blue america are following mediate their differences and find reasonable compromises to move forward. we know democrats have won the popular vote five of the last six times for the presidency. they have kind of a structural advantage, i believe, and demographic change. we know republicans have an advantage in the house the way the population distributed. we know for at least the next two years, probably the next four years, going to have divide government. none of us are going away and really, you know, watching the inability to make this deal is ominous the next two years because it suggests that neither side, but i think probably more of the republicans, but neither side entirely is fully facing up to the reality of divided government an
to deal with, including a debt ceiling in a matter of weeks, if we can't get past the cliff, i guess what i'm going to ask you, ron is how much hope do we have that congress can tackle these other huge issues? >> well, look, i think that's the big story here. the context wit fiscal cliff and all of this has to be seen. it is whether red america and blue america are following mediate their differences and find reasonable compromises to move forward. we know democrats have won the popular...
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ceiling and fighting about spending cuts. that will cause a lot of uncertainty and concern on consumers behalf. and so right now i know that i'm sitting on the sidelines waiting before i hire. i know i have franchises, fastsigns franchises are waiting to see what happens in the next 60 and 90 days. there is a lot of uncertainty regarding that part of the equation. melissa: scott, are you out there as an investor, are you out there looking for companies that are say i know it is a tough climate out there but i will take to my advantage, use to my advantage the fact that other ceos are sittings on the sidelines and are timid and i will steal their market share? i will eat their lunch while everyone is sitting on their hands worried and i will get it done? are there companies out there? they are out there. we have cap alism. that is the root cause of it. to bart's point, technology is certainly an area you will see companies capitalize. i love the word uncertainty here. you're right, melissa, people are afraid how bad thing real
ceiling and fighting about spending cuts. that will cause a lot of uncertainty and concern on consumers behalf. and so right now i know that i'm sitting on the sidelines waiting before i hire. i know i have franchises, fastsigns franchises are waiting to see what happens in the next 60 and 90 days. there is a lot of uncertainty regarding that part of the equation. melissa: scott, are you out there as an investor, are you out there looking for companies that are say i know it is a tough climate...
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refuses to pass an extension to the debt ceiling. if that happens, the united states can't add any new debt, cannot continue to borrow, so what would you have to do if you're the united states government? you'd have to live off of your tax receipts. take a look here at some of the charts that we've prepared, and can you see exactly how much money the u.s. government brings in every month. it's about $206 billion in receipts every month. that's the whole amount of money the u.s. government would have to finance its operations so how does that break out? what are the expenses on a monthly basis? we'll start with the absolute must-dos. interest on the debt, $29 billion a month. got to pay that. social security, got to pay that. 65 billion, medicare about 42 billion. veterans will b $11 billion. income security programs. that's about $46 billion in expenses every month and also military salaries. this is our estimate so some of these numbers are a little bit rough, but that's about $13 billion a month, and what does that get you? it gets
refuses to pass an extension to the debt ceiling. if that happens, the united states can't add any new debt, cannot continue to borrow, so what would you have to do if you're the united states government? you'd have to live off of your tax receipts. take a look here at some of the charts that we've prepared, and can you see exactly how much money the u.s. government brings in every month. it's about $206 billion in receipts every month. that's the whole amount of money the u.s. government would...
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he wants congress to just pass it right away, but he doesn't control congress. pso if hso ie waf hents wanreputs rblicepubans licato ns to vote in favor of raising the debt ceiling, he may have to negotiate with them, norah. >> nancy cordes. thanks, cordes. >>> vice president joe biden is getting much of the credit from both republicans and democrats for nailing down the deal. the message is biden is back. good morning. >> reporter: it's a fresh start for joe biden, no question about it. he's been the chief negotiator with congress on the fiscal cliff. that was a good thing for biden after his foot in the mouth style often got him in trouble wi thwith the boss in 2012. but last night all was forgiven. >> i want to thank the work that was done by my extraordinary v ce & respvicidee president >> a presidential ata boy. >> happy new year. >> the white house sent the vice president to the capital twice to&